Hi-Crush Partners (HCLP) Given a $16.00 Price Target at Seaport Global Securities

Hi-Crush Partners (NYSE:HCLP) has been given a $16.00 price objective by research analysts at Seaport Global Securities in a research report issued to clients and investors on Thursday. The brokerage presently has a “buy” rating on the basic materials company’s stock. Seaport Global Securities’ price target suggests a potential upside of 79.17% from the stock’s previous close.

A number of other equities research analysts also recently commented on HCLP. ValuEngine raised Hi-Crush Partners from a “sell” rating to a “hold” rating in a research report on Thursday, June 21st. Guggenheim downgraded Hi-Crush Partners from a “buy” rating to a “neutral” rating in a research report on Friday, July 6th. Zacks Investment Research downgraded Hi-Crush Partners from a “buy” rating to a “hold” rating in a research report on Monday, July 23rd. TheStreet raised Hi-Crush Partners from a “c+” rating to a “b-” rating in a research report on Friday, July 20th. Finally, B. Riley lifted their price objective on Hi-Crush Partners from $17.00 to $18.00 and gave the company a “buy” rating in a research report on Tuesday, July 24th. Two investment analysts have rated the stock with a sell rating, twelve have given a hold rating and five have assigned a buy rating to the company. The company has an average rating of “Hold” and an average target price of $13.93.

Hi-Crush Partners stock traded down $0.27 during mid-day trading on Thursday, hitting $8.93. 92,587 shares of the company were exchanged, compared to its average volume of 1,916,533. The company has a debt-to-equity ratio of 0.22, a quick ratio of 1.47 and a current ratio of 1.85. The company has a market capitalization of $954.64 million, a price-to-earnings ratio of 8.84 and a beta of 1.35. Hi-Crush Partners has a 12-month low of $8.62 and a 12-month high of $16.65.

Hi-Crush Partners (NYSE:HCLP) last released its quarterly earnings results on Tuesday, July 31st. The basic materials company reported $0.67 earnings per share for the quarter, missing the consensus estimate of $0.77 by ($0.10). The company had revenue of $248.52 million for the quarter, compared to analysts’ expectations of $250.12 million. Hi-Crush Partners had a return on equity of 24.51% and a net margin of 22.92%. The business’s quarterly revenue was up 83.8% on a year-over-year basis. During the same period in the previous year, the business posted $0.18 EPS. On average, analysts forecast that Hi-Crush Partners will post 2.49 EPS for the current fiscal year.

In other Hi-Crush Partners news, insider William E. Barker sold 9,444 shares of the business’s stock in a transaction dated Tuesday, September 18th. The stock was sold at an average price of $12.40, for a total transaction of $117,105.60. Following the completion of the sale, the insider now owns 17,968 shares of the company’s stock, valued at $222,803.20. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider William E. Barker sold 12,367 shares of the business’s stock in a transaction dated Wednesday, August 8th. The shares were sold at an average price of $12.90, for a total value of $159,534.30. The disclosure for this sale can be found here. 34.80% of the stock is currently owned by insiders.

Hedge funds have recently bought and sold shares of the business. Van ECK Associates Corp grew its position in Hi-Crush Partners by 10.9% during the second quarter. Van ECK Associates Corp now owns 239,227 shares of the basic materials company’s stock valued at $2,823,000 after acquiring an additional 23,590 shares during the period. Raymond James Financial Services Advisors Inc. lifted its stake in shares of Hi-Crush Partners by 4.8% during the second quarter. Raymond James Financial Services Advisors Inc. now owns 312,676 shares of the basic materials company’s stock worth $3,690,000 after purchasing an additional 14,400 shares in the last quarter. Ingalls & Snyder LLC acquired a new position in shares of Hi-Crush Partners during the second quarter worth about $198,000. Royce & Associates LP acquired a new position in shares of Hi-Crush Partners during the second quarter worth about $1,134,000. Finally, Malaga Cove Capital LLC lifted its stake in shares of Hi-Crush Partners by 13.1% during the third quarter. Malaga Cove Capital LLC now owns 118,544 shares of the basic materials company’s stock worth $1,292,000 after purchasing an additional 13,750 shares in the last quarter. 24.26% of the stock is owned by hedge funds and other institutional investors.

About Hi-Crush Partners

Hi-Crush Partners LP, together with its subsidiaries, provides proppant and logistics solutions to the energy industry in North America. The company produces monocrystalline sand, a specialized mineral used as a proppant during the well completion process to facilitate the recovery of hydrocarbons from oil and natural gas wells.

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Analyst Recommendations for Hi-Crush Partners (NYSE:HCLP)

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